MUDRA Helping Hand to non-corporate small business sector (NCSBS)

Micro and small business sector creates immense wealth through gainful utilization of natural resources available within the country, by generating large scale employment for the rural and urban population in the manufacturing and service sectors. But these units are facing many difficulties due to non-availability of credit. They are striving for financial support. Hence Government of India has decided to set up Micro Units Development and Refinancing Agency, to fund the unfunded with the objective of promoting micro finance institutions. Apart from funding the bank will also be laying down guidelines for MFIs, registration, policy guidelines, accreditation among others. This bank will join hands with several local financial agencies for refinance to provide financial assistance to unfunded Non-Corporate Small Business Sector.